Ex-ante regulations and ex-post liabilities for using a new technology will induce additional costs for adopters. The standard model is advanced by including irreversibility and uncertainty and taking into account transaction costs of negotiating possible cost reductions. The case analysed is...

Ex-ante regulations and ex-post liabilities for using a new technology will induce additional costs for adopters. The standard model is advanced by including irreversibility and uncertainty and taking into account transaction costs of negotiating possible cost reductions. The case analysed is...

Die EU einigte sich Ende Mai nach langer Diskussion auf eine Altauto-Richtlinie, die in einer Übergangszeit kostenlose Rücknahmesysteme beinhaltet. Weiterhin ist aber umstritten, ob eine Rücknahme ausgedienter Kfz für die Verbraucher kostenlos sein sollte. Welche Rolle hat der Konsument im...

This paper investigates whether manufacturers should be liable if consumers, through the use of a product, cause harm to others. If consumers have deep pockets then consumeronly liability is socially desirable. With consumer insolvency, however, consumer-only liability leads to inadequate...

We describe how product liability interacts with regulatory product approval in influencing a firm's incentives to acquire information about product risk, using a very parsimonious model. The firm may have insufficient information acquisition incentives when it is not fully liable for the harm...